Mining company ZCCM Investments Holdings Plc (ZCCM-IH), which owns minority stakes in most of Zambia's largest copper mines, is considering selling a stake in the company's assets. This is reported by foreign media with reference to the statement of the leadership of ZCCM-IH.
Other ZCCM-IH shareholders can also sell some of their shares in accordance with the requirement of the local stock exchange regarding the mandatory access of 25% of shares for free trade. The Zambian government owns 77.5% of ZCCM-IH shares, the national Pension fund owns 15%, and the remaining 7.5% belongs to minority shareholders.
The management of ZCCM-IH intends to increase its market capitalization from the current $1 billion to $7 billion over 10 years by offering shares in global markets, including the UK.
In Zambia, Africa's second-largest copper producer, record prices for the metal are boosting investment in the mining sector. ZCCM-IH owns stakes ranging from 10% to 49% in the assets of Vedanta Resources Ltd. and First Quantum Minerals Ltd., and also invests in power generation.
ZCCM Investments Holdings is an investment and mining company headquartered in Lusaka, Zambia.Read our Telegram channel "Mergers and acquisitions. AK&M».
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